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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
Chengdu Expressway Co's Sloan Ratio for the quarter that ended in Jun. 2026 was 0.00%.
As of Jun. 2026, Chengdu Expressway Co has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Chengdu Expressway Co (FRA:3E8) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Jun. 2026, Chengdu Expressway Co has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.
Chengdu Expressway Co Sloan Ratio % Related Terms
Chengdu Expressway Co Sloan Ratio % Historical Data
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The historical data trend for Chengdu Expressway Co's Sloan Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Chengdu Expressway Co Sloan Ratio % Competitor Comparison
For the Infrastructure Operations subindustry, Chengdu Expressway Co's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Chengdu Expressway Co Sloan Ratio % vs Construction Industry
For the Construction industry and Industrials sector, Chengdu Expressway Co's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Chengdu Expressway Co's Sloan Ratio % falls into.
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Chengdu Expressway Co's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Chengdu Expressway Co's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 0 (Jun. 2025 ) + 24.459 (Sep. 2025 ) + 10.36 (Dec. 2025 ) + 0 (Jun. 2026 ) = €34.8 Mil.
Chengdu Expressway Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 0 (Jun. 2025 ) + 24.998 (Sep. 2025 ) + 35.104 (Dec. 2025 ) + 0 (Jun. 2026 ) = €60.1 Mil.
Chengdu Expressway Co's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was 0 (Jun. 2025 ) + -23.816 (Sep. 2025 ) + -126.196 (Dec. 2025 ) + 0 (Jun. 2026 ) = €-150.0 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Chengdu Expressway Co (FRA:3E8) has a Sloan Ratio % of 0.00% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Chengdu Expressway Co and its competitors.
Is Chengdu Expressway Co's Sloan Ratio % too high?
Chengdu Expressway Co's current Sloan Ratio % is 0.00%. Overall, Chengdu Expressway Co has a GF Score™ of 89/100, reflecting its overall financial health beyond just this single metric.
How does Chengdu Expressway Co's Sloan Ratio % compare to competitors?
Chengdu Expressway Co's Sloan Ratio % of 0.00% can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Construction company?
A good Sloan Ratio % depends on the Construction industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Chengdu Expressway Co and its competitors. Chengdu Expressway Co's current Sloan Ratio % is 0.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chengdu Expressway Co stock overvalued right now?
Chengdu Expressway Co (FRA:3E8) has a current Sloan Ratio % of 0.00%. The stock's GF Value™ is €0.22, compared to a current price of €0.20 — trading 9.1% below its estimated fair value. The current Sloan Ratio % is 0.00%. Chengdu Expressway Co's overall GF Score™ is 89/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Chengdu Expressway Co (FRA:3E8), the current Sloan Ratio % is 0.00% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Chengdu Expressway Co (FRA:3E8) Overvalued in 2026?
Based on GuruFocus' analysis, Chengdu Expressway Co stock appears to be undervalued.
The current stock price of €0.20 is trading 9.1% below its estimated GF Value™ of €0.22.
Key valuation signals for FRA:3E8:
Sloan Ratio %: 0.00%
GF Value™: €0.22 vs. price of €0.20 (9.1% below fair value)
No single metric tells the full story. See the FRA:3E8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chengdu Expressway Co Ltd is principally engaged in the operation, management and development of expressways located in and around Chengdu, Sichuan Province and retailing of refined oil. Meanwhile, the Group also carries out retail of refined oil and operation of CNG. It operates in two reportable segments the Expressway segment segment comprises the construction, operation and maintenance of toll expressways located in Mainland China; and the Energy Investment segment comprises the operation of petrol stations and a gas station in Mainland China. It derives majority of the revenue from Expressway segment.
89GF Score
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